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The next steps automakers could take after sales drop again in April

DETROIT (Reuters) - Major automakers on Tuesday posted declines in U.S. new vehicle sales for April in a sign the long boom cycle that lifted the American auto industry to record sales last year is losing steam, sending carmaker stocks down. The drop in sales versus April 2016 came on the heels of a disappointing March, which automakers had shrugged off as just a bad month. But two straight weak months has heightened Wall Street worries the cyclical industry is on a downward swing after a nearly uninterrupted boom since the Great Recession's end in 2010. Auto sales were a drag on U.S. first-quarter gross domestic product, with the economy growing at an annual rate of just 0.7 percent according to an advance estimate published by the Commerce Department last Friday. Excluding the auto sector the GDP growth rate would have been 1.2 percent. Industry consultant Autodata put the industry's seasonally adjusted annualized rate of sales at 16.88 million units for April, below the average of 17.2 million units predicted by analysts polled by Reuters. General Motors Co shares fell 2.9 percent while Ford Motor Co slid 4.3 percent and Fiat Chrysler Automobiles NV's U.S.-traded shares tumbled 4.2 percent. The U.S. auto industry faces multiple challenges. Sales are slipping and vehicle inventory levels have risen even as carmakers have hiked discounts to lure customers. A flood of used vehicles from the boom cycle are increasingly competing with new cars. The question for automakers: How much and for how long to curtail production this summer, which will result in worker layoffs? To bring down stocks of unsold vehicles, the Detroit automakers need to cut production, and offer more discounts without creating "an incentives war," said Mark Wakefield, head of the North American automotive practice for AlixPartners in Southfield, Michigan. "We see multiple weeks (of production) being taken out on the car side," he said, "and some softness on the truck side." Rival automakers will be watching each other to see if one is cutting prices to gain market share from another, he said, instead of just clearing inventory. INVESTORS DIGEST BAD NEWS Just last week GM reported a record first-quarter profit, but that had almost zero impact on the automaker's stock. The iconic carmaker, whose own interest was once conflated with that of America's, has slipped behind luxury carmaker Tesla Inc in terms of valuation.

Lexus compact crossover based on the UX could debut in Geneva

We have but one line to go on, from Car magazine's section on Lexus in the rundown of Geneva Motor Show reveals: "Baby SUV not yet confirmed, but word is that a Lexus small crossover based on UX concept is due." Actually, there's a tad more than hearsay to add to that line: Lexus International EVP Yoshihiro Sawa said one year ago that the carmaker already approved a production version of the UX, and that it is "not so far away." The trail goes cold there, though, when trying to divine what a civilian UX would look like. The production model should borrow its platform and some organs from the Toyota C-HR, which rides on the TNGA bones also shared with the Prius. Yet the UX concept, shown at the 2016 Paris Motor Show, warped so many dimensions it belongs in the coming Avatar sequels or a " Time Bandit" reboot. Chapeau to the designers for compressing so much action in so little space; at 173.2 inches long, 74.8 inches wide, and 59.8 inches tall, on a 103.9-inch wheelbase, the UX concept was a smidge larger than an Audi Q3, a smidge smaller than the Mercedes GLA. A retail crossover based on the concept would need to give up 93 percent of the UX's character, but that remaining 7 percent would still be powerful — especially when you add a big ol' spindle grille. We expect the Lexus baby CUV to come to America, but that's not confirmed. Lexus did trademark the names UX 200, UX 250, and UX 250h with U.S. Patent and Trademark Office in 2016, and Jeff Bracken, Lexus' North America group VP and GM, said, "Our dealers are all over us to produce that concept vehicle." And why not? Crossovers constitute the majority of Lexus' U.S. sales, and Lexus seriously seeks the younger buyers who can't get enough compact crossover bait. And the production UX would provide a new entry-level vehicle to challenge entrants in the GLA and BMW X1 class, where the Germans and other carmakers are minting money. Lexus has pledged not to sell a vehicle in the U.S. for under $30,000, but it's got room to play with between that floor and the $35,985 Lexus NX. Related Video:

Lexus planning second flagship alongside LS sedan

Lexus is planning to launch another flagship to slot alongside the LS sedan, but we don't know if it will be a coupe or a crossover. The coupe has been the persistent rumor. Lexus showed the two-door LF-LC concept in 2012 and a production model could borrow its underpinnings from the LS sedan. It's tipped to wear the letters LC or to revive the SC nameplate. The previous SC launched in 1991 as a fixed-roof coupe and offered inline-six or V8 engines. It was replaced in 2001 with the SC430 that had a V8 and a folding hardtop. While the coupe idea may seem like the leading candidate, the company's ambiguity is leading to speculation that the new flagship could adopt a different body-style altogether. "We need a flagship," Lexus general manager Jeff Bracken told Reuters. "It doesn't have to be a sedan." "In addition to the LS, there could be another flagship in our lineup," Bracken said. "We'll define what it is in January." The comments suggest something will be revealed at the Detroit auto show and could open the door to a new flagship SUV or crossover. That position is currently held by the LX 570, which is closely based on the Toyota Land Cruiser. However, sales of the LX have been less than stellar. From the 14,000-plus units Lexus sold of the original LX 470 when it launched in the US back in 2000, annual sales have dropped to just over 4,000 the last few years. Mercedes regularly sells over 25,000 of its GL-Class crossovers each year in the US alone. Last year Audi sold 18,000 Q7s here despite its imminent replacement. Land Rover sold nearly 13,000 Range Rovers last year and another 18,000 Range Rover Sports. Meanwhile, Cadillac typically sells between 20,000 and 30,000 Escalades every year, down from the 50,000-60,000 it sold a decade ago. A facelift is due for the LX that ought to spike sales a little, but Lexus will need more than a refresh to catch up with those rivals. In the meantime, it reportedly plans to roll out a three-row variant of the new RX before its lifespan is over. "We don't want to wait for a next generation" to give the RX the added seating capacity many customers are demanding, said Bracken. Related Video: